He took the move ahead of the no-confidence vote.
The Himalayan nation had witnessed political crisis after last year's Madhesi protests against the new Constitution.
After the Maoists withdrew support from the coalition government, Oli was facing a no-trust motion.
He was elected as the Prime Minister of the Himalayan nation last October and today resigned from his post after remaining in power for 287 days.
“Madam Speaker, I have met the Honourable President before coming to this respectful House. After the budgetary bills were rejected from the Legislature-Parliament, I have understood the majority of members of the Legislature-Parliament that elected me as the Prime Minister do not have support to me, whatever be the reason. I have already said – the post of Prime Minister is not my only target and destination. Thus, at the changed scenario, I would like to inform that I have already tendered my resignation to the President with a decision to pave the way for this House to elect a new prime minister," The Himalayn Times reported quoting the PM as saying in the House.
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